Cambridge Savings Bank Extends New Credit Facility to Accelerate Growth for Fabrizia Spirits
October 16, 2024
Source: Cambridge Savings Bank (CSB)
Financing will provide flexibility and contribute to production efficiency, ultimately advancing Fabrizia’s mission to promote authentic limoncello and natural citrus beverages
CAMBRIDGE, MA – October 17th 2024 – Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $7 billion in assets, today announced that its Asset-Based Lending (ABL) team has provided a new credit facility to Fabrizia Spirits, a leading citrus spirits manufacturer in the United States. The customized lending package will enable the company to execute its strategic growth plans, expand distribution and enhance production efficiency through longer, more cost-effective production runs. Fabrizia Spirits plans to use the financing to scale its operations to meet rising consumer demand, while maintaining the high-quality standards for which the brand is known.
Based in Salem, New Hampshire, Fabrizia Spirits specializes in producing premium liqueurs and spirits. The company is known for its signature product, Fabrizia Limoncello, a lemon liqueur made from fresh lemons sourced from southern Italy. The company has shown consistent year-over-year growth and is now available in 22 states, with nationwide shipping offered through its website.
“Following years of hard work and hands-on efforts to build our business, it is beyond rewarding to see our continued success in an increasing number of markets nationwide,” said Philip Mastroianni, o-Founder and Chief Executive Officer at Fabrizia Spirits. “This company is a labor of love, and for that reason, we are very selective about the partners we work with. Cambridge Savings Bank’s deep involvement and their genuine effort to understand every aspect of our business made them the perfect fit for this next phase of our growth.”
Founded in 2008 by Philip, and his brother, Nick Mastroianni, Fabrizia Spirits is a family-owned and managed business. Over the years, the company’s product line has expanded to include limoncello-infused spirits and ready-to-drink canned cocktails. Committed to all natural ingredients, Fabrizia Spirits hand picks its lemons at peak ripeness during a five-month harvest time in Sicily, Italy which is then directly shipped to the company’s production facility in New Hampshire.
“Our long-term goal at Fabrizia Spirits is to educate consumers about the authentic preparation of Limoncello while crafting enjoyable, all-natural citrus alcoholic beverages,” said Nicholas Mastroianni, Co-Founder of Fabrizia Spirits. “Thanks to our partnership with Cambridge Savings Bank, we now have the flexibility to scale our business, maximize production and grow our presence, all while staying true to our commitment to quality and tradition.”
The recent credit facility represents the start of a new relationship between Fabrizia Spirits and CSB. With over 130 years of combined experience, the ABL team at CSB provides flexible, tailored solutions. By conducting in-depth analyses of diverse collateral options, the ABL team is able to optimize valuations and offer higher advance rates. This approach often provides businesses like Fabrizia Spirits with greater borrowing capacity compared to traditional loan structures.
“Fabrizia Spirits has built a thriving business with an uncompromising approach to delivering exceptional service and superior products to its customers,” said Michael Richardson, Vice President, Asset-Based Lending Relationship Manager at CSB. “It has been a pleasure to become a part of the Fabrizia Spirits family by developing a financing package that leaves the company well-positioned to take advantage of future growth opportunities. We’re excited to support their continued success and expansion in the years to come.”
CSB’s Asset-Based Lending team is dedicated to serving the needs of its local communities and businesses by providing tailored financing solutions that support growth and operational flexibility. To learn more about CSB’s custom Asset-Based Lending solutions, please contact Keith Broyles at kbroyles@cambridgesavings.com or Michael Richardson at mrichardson@cambridgesavings.com.
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About Fabrizia Spirits
Founded in 2008, Salem, N.H.-based Fabrizia Spirits is the leading Limoncello producer in the United States. Fabrizia also offers a line of ready-to-drink canned cocktails. All Fabrizia Spirits products are produced at the company's 11,500 square foot manufacturing facility, with only natural ingredients in Salem, NH. The company will produce approximately 85,000 cases of product this year. Fabrizia Spirits products are currently sold in 22 states and available for purchase online, as well. For more information, please visit fabriziaspirits.com.
About Cambridge Savings Bank
Cambridge Savings Bank is a full-service banking institution with over $7 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. In March 2023, Kroll Bond Rating Agency affirmed CSB’s investment-grade rating, reinforcing the bank’s position as a reliable business lender. To learn more about how CSB can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender. NMLS # 543370.
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